Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2022
Open to Public Inspection
For calendar year 2022, or tax year beginning 01-01-2022 , and ending 12-31-2022
Name of foundation
R J MCELROY TRUST
 
Number and street (or P.O. box number if mail is not delivered to street address)114 E 4TH STREET STE 300
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
WATERLOO, IA50703
A Employer identification number

42-6173496
B Telephone number (see instructions)

(319) 287-9102
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$49,648,668J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 1,467,991 1,467,991  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment
List of Attached Documents:
// Content
1,795,681
b Gross sales price for all assets on line 6a 15,668,129
7 Capital gain net income (from Part IV, line 2)... 1,767,373
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
941,025 166,615  
12 Total. Add lines 1 through 11........ 4,204,697 3,401,979  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 113,269 11,327   101,942
14 Other employee salaries and wages...... 69,328 6,933   62,395
15 Pension plans, employee benefits....... 15,164 1,517   13,647
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
2,505     2,505
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
19,000 4,750   14,250
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
228,563 226,872   1,691
17 Interest............... 11,457 11,457    
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
108,328 22,224    
19 Depreciation (attach schedule) and depletion... Click to see attachment
List of Attached Documents:
// Content
5,260    
20 Occupancy.............. 10,172     10,172
21 Travel, conferences, and meetings....... 3,260     3,260
22 Printing and publications.......... 1,112     1,112
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
228,561 210,303   18,258
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 815,979 495,383   229,232
25 Contributions, gifts, grants paid....... 2,223,400 2,223,400
26 Total expenses and disbursements. Add lines 24 and 25 3,039,379 495,383   2,452,632
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,165,318
b Net investment income (if negative, enter -0-) 2,906,596
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2022)
Form 990-PF (2022)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 512,841 814,939 814,939
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 29,169,842 Click to see attachment
List of Attached Documents:
// Content
27,592,271 		28,466,772
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 11,042,473 Click to see attachment
List of Attached Documents:
// Content
13,488,524 		20,366,957
14 Land, buildings, and equipment: basis right arrow81,030
Less: accumulated depreciation (attach schedule) right arrow75,977 10,313 Click to see attachment
List of Attached Documents:
// Content
5,053 		 
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 40,735,469 41,900,787 49,648,668
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 40,735,469 41,900,787
29 Total net assets or fund balances (see instructions)..... 40,735,469 41,900,787
30 Total liabilities and net assets/fund balances (see instructions). 40,735,469 41,900,787
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
40,735,469
2
Enter amount from Part I, line 27a .....................
2
1,165,318
3
Other increases not included in line 2 (itemize) right arrow
3
 
4
Add lines 1, 2, and 3 ..........................
4
41,900,787
5
Decreases not included in line 2 (itemize) right arrow
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
41,900,787
Form 990-PF (2022)
Form 990-PF (2022)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a 1886.398 SH DOUBLELINE TOTAL RETURN P 2022-02-28 2022-06-15
b 160 SH VANGUARD S&P 500 ETF P 2020-08-11 2022-08-02
c ST TRANSACTIONS - MS 949-036751 P    
d 64165.844 SH DOUBLELINE TOTAL RETURN P 2013-12-31 2022-02-28
e 2053 SH VANGUARD S&P 500 ETF P 2020-08-11 2022-08-09
ST WASH SALE TRANSACTIONS - MS 36751 P    
25111.442 SH DOUBLELINE TOTAL RETURN P 2019-04-24 2022-06-15
136 SH VANGUARD S&P 500 ETF P 2020-08-11 2022-09-13
ST TRANSACTIONS - MS 949-037434 P    
717 SH VANGUARD FTSE ALL-WORLD FUND P 2021-07-01 2022-01-13
ST TRANSACTIONS - MS 949-028290 P    
BAYVIEW CAPITAL PARTNERS III P    
45 SH VANGUARD FTSE ALL-WORLD FUND P 2021-04-13 2022-01-18
ST WASH SALE TRANSACTIONS - MS 28290 P    
HAMILTON LANE P    
23299 SH VANGUARD FTSE ALL-WORLD FD P 2014-11-21 2022-01-13
LT TRANSACTIONS - MS 949-028290 P    
PRIVATE EQUITY CORE FUND III P    
8498.453 SH OAKMARK GLOBAL SELECT FD P 2021-12-16 2022-03-03
LT WASH SALE TRANSACTIONS - MS 28290 P    
PRIVATE EQUITY CORE FUND III P    
83203.995 SH OAKMARK GLOBAL SELECT F P 2016-04-18 2022-03-03
ST TRANSACTIONS - MS 949-032246 P    
PRIVATE EQUITY CORE FUND III P    
44 SH ISHARES CORE S&P MID-CAP FUND P 2022-01-10 2022-12-07
ST WASH SALE TRANSACTIONS - MS 32246 P    
OAK STREET REAL ESTATE FUND P    
396 SH ISHARES CORE S&P MID-CAP FUND P 2020-01-23 2022-12-07
LT TRANSACTIONS - MS 949-032246 P    
PENN SQUARE GLOBAL REAL ESTATE P    
35714.286 SH PIMCO REAL RETURN FUND P 2022-03-10 2022-06-15
ST TRANSACTIONS - MS 949-036750 P    
PENN SQUARE GLOBAL REAL ESTATE P    
57971.014 SH PIMCO REAL RETURN FUND P 2020-12-09 2022-02-04
ST WASH SALE TRANSACTIONS - MS 36750 P    
TOWNSQUARE REAL ESTATE P    
27397.26 SH PIMCO REAL RETURN FUND P 2020-12-09 2022-02-28
ST TRANSACTIONS - MS 949-036750 P    
51898.734 SH PIMCO REAL RETURN FUND P 2020-12-09 2022-04-14
85000 PV MORGAN STANLEY BOND P 2021-11-26 2022-12-02
1155 SH VANGUARD S&P 500 ETF P 2020-08-11 2022-01-13
LT TRANSACTIONS - MS 949-036750 P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 17,468   18,421 -953
b 60,259   49,424 10,835
c 172,091   246,077 -73,986
d 650,000   681,128 -31,128
e 774,887   634,172 140,715
1,632     1,632
232,532   264,172 -31,640
50,271   42,010 8,261
1,136,099   1,179,443 -43,344
44,702   45,415 -713
351,847   435,226 -83,379
480,091     480,091
2,753   2,789 -36
15,565     15,565
120,302     120,302
1,452,604   1,188,282 264,322
893,460   729,916 163,544
    2,277 -2,277
176,683   189,431 -12,748
6,636     6,636
328     328
1,729,811   1,272,388 457,423
54,928   56,305 -1,377
39,446     39,446
10,923   11,814 -891
69     69
21,529     21,529
98,305   82,852 15,453
140,926   183,279 -42,353
    9,566 -9,566
250,000   268,051 -18,051
4,103,501   4,325,103 -221,602
    13 -13
400,000   340,484 59,516
7,048     7,048
    99,787 -99,787
200,000   152,877 47,123
585,682   620,998 -35,316
410,000   289,595 120,405
78,726   91,526 -12,800
499,968   356,780 143,188
2,697   2,847 -150
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       -953
b       10,835
c       -73,986
d       -31,128
e       140,715
      1,632
      -31,640
      8,261
      -43,344
      -713
      -83,379
      480,091
      -36
      15,565
      120,302
      264,322
      163,544
      -2,277
      -12,748
      6,636
      328
      457,423
      -1,377
      39,446
      -891
      69
      21,529
      15,453
      -42,353
      -9,566
      -18,051
      -221,602
      -13
      59,516
      7,048
      -99,787
      47,123
      -35,316
      120,405
      -12,800
      143,188
      -150
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 1,767,373
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3 -467,754
Form 990-PF (2022)
Form 990-PF (2022)
Page 4
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 40,402
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 40,402
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 40,402
6 Credits/Payments:
a 2022 estimated tax payments and 2021 overpayment credited to 2022 6a 40,808
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 40,808
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2221 is attached. Click to see attachment
List of Attached Documents:
// Content
8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 406
11 Enter the amount of line 10 to be: Credited to 2023 estimated taxright arrow0 Refundedright arrow 11 406
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowIA
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2022 or the taxable year beginning in 2022? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
Form 990-PF (2022)
Form 990-PF (2022)
Page 5
Part VI-A
Statements Regarding Activities (continued)
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowWWW.MCELROYTRUST.ORG
14
The books are in care ofright arrowMEGAN MCKENZIE Telephone no.right arrow (319) 287-9102

Located atright arrow425 CEDAR ST SUITE 312WATERLOOIA ZIP+4right arrow50701
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2022, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16Yes  
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrowOC
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
 
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2022? .............
1d
 
 
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2022, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2022?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2022 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2022.) .....................
3b
 
No
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2022? ..
4b
 
No
Form 990-PF (2022)
Form 990-PF (2022)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
RALEIGH D BUCKMASTER TRUSTEE
000.00 		6,000 0 0
114 E 4TH STREET STE 300
WATERLOO,IA50703
RICHARD C YOUNG TRUSTEE
000.00 		6,000 0 0
114 E 4TH STREET STE 300
WATERLOO,IA50703
JAMES B WATERBURY TRUSTEE
000.00 		6,000 0 0
114 E 4TH STREET STE 300
WATERLOO,IA50703
KATHY FLYNN TRUSTEE
000.00 		6,000 0 0
114 E 4TH STREET STE 300
WATERLOO,IA50703
ROBERT L SMITH JR TRUSTEE
000.00 		6,000 0 0
114 E 4TH STREET STE 300
WATERLOO,IA50703
MICHAEL R YOUNG TRUSTEE
000.00 		6,000 0 0
114 E 4TH STREET STE 300
WATERLOO,IA50703
SALLY HOLLIS TRUSTEE
000.00 		6,000 0 0
114 E 4TH STREET STE 300
WATERLOO,IA50703
MEGAN MCKENZIE EXECUTIVE DI
000.00 		71,269 0 0
114 E 4TH STREET STE 300
WATERLOO,IA50703
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000...................right arrow  
Form 990-PF (2022)
Form 990-PF (2022)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE
Total number of others receiving over $50,000 for professional services.............right arrow  
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1 N/A  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow  
Form 990-PF (2022)
Form 990-PF (2022)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
31,431,814
b
Average of monthly cash balances.......................
1b
714,840
c
Fair market value of all other assets (see instructions)................
1c
20,653,538
d
Total (add lines 1a, b, and c).........................
1d
52,800,192
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
 
2
Acquisition indebtedness applicable to line 1 assets..................
2
 
3
Subtract line 2 from line 1d.........................
3
52,800,192
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
792,003
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
52,008,189
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
2,600,409
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
2,600,409
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
40,402
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
40,402
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
2,560,007
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
2,560,007
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
2,560,007
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
2,452,632
b
Program-related investments—total from Part VIII-B..................
1b
 
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
2,452,632
Form 990-PF (2022)
Form 990-PF (2022)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2021 		(c)
2021 		(d)
2022
1 Distributable amount for 2022 from Part X, line 7 2,560,007
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2021 only.......  
b Total for prior years:20, 20, 20  
3 Excess distributions carryover, if any, to 2022:
a From 2017......  
b From 2018......  
c From 2019......  
d From 2020......  
e From 2021...... 57,551
f Total of lines 3a through e ........ 57,551
4Qualifying distributions for 2022 from Part
XI, line 4: right arrow$ 2,452,632
a Applied to 2021, but not more than line 2a  
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		 
d Applied to 2022 distributable amount..... 2,452,632
e Remaining amount distributed out of corpus  
5 Excess distributions carryover applied to 2022. 57,551 57,551
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5  
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		 
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		 
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		 
e Undistributed income for 2021. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
f Undistributed income for 2022. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2023 .......... 		49,824
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		 
8 Excess distributions carryover from 2017 not
applied on line 5 or line 7 (see instructions) ... 		 
9 Excess distributions carryover to 2023.
Subtract lines 7 and 8 from line 6a ...... 		 
10 Analysis of line 9:
a Excess from 2018....  
b Excess from 2019....  
c Excess from 2020....  
d Excess from 2021....  
e Excess from 2022....  
Form 990-PF (2022)
Form 990-PF (2022)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2022, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2022 (b) 2021 (c) 2020 (d) 2019
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
MEGAN MCKENZIE
425 CEDAR ST SUITE 312
WATERLOO,IA50701
(319) 287-9102
bThe form in which applications should be submitted and information and materials they should include:
GRANT APPLICATIONS ARE FILLED OUT ONLINE THROUGH THEIR WEBSITE AT WWW.MCELROYTRUST.ORG. APPLICATIONS MUST INCLUDE THE PROJECT NAME, PROJECT SUMMARY, START/END DATE, HOW THE GRANT ALIGNS WITH MCELROY'S STRATEGIC MISSION, TYPE OF FUNDING NEEDED, TOTAL COST OF PROJECT AND HOW MUCH FUNDING IS REQUESTED.
cAny submission deadlines:
THE TRUST CONSIDERS GRANT PROPOSALS THROUGHOUT THE YEAR.
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
EDUCATION PROJECTS - YOUTH IN NORTHEAST IOWA
Form 990-PF (2022)
Form 990-PF (2022)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year
SCHEDULED - ATTACHED


SCHEDULED
SCHEDULED,IA50701 		N/A PUBLIC SCHEDULED 2,223,400
Total .................................right arrow 3a 2,223,400
bApproved for future payment
Total ................................. right arrow 3b  
Form 990-PF (2022)
Form 990-PF (2022)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		         
4 Dividends and interest from securities ....     14 1,467,991  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....     14 166,615  
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 1,767,373 28,308
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aBAYVIEW III - ADD BOOK INC 		    14 -73,061  
bBAYVIEW CAPITAL III 900099 43,039      
cBAYVIEW IV - ADD BOOK INC     14 135,052  
dBAYVIEW CAPITAL IV 900099 -7,153      
eBLACKSTONE EN - ADD BOOK IN     14 19,126  
fPRIVATE EQUITY CORE FUND 900099 1,810      
gPRIVATE EQUITY - ADD BOOK I     14 56,400  
hPENN SQUARE - ADD BOOK INC     14 -230  
iPENN SQUARE GLOBAL REAL EST 900099 53      
jTOWNSQUARE - ADD BOOK INC     14 -6,037  
kTOWNSQUARE REAL ESTATE ALPH 900099 3,402      
lTOWNSQUARE REAL ESTATE ALPH 900099 2,267      
mTOWNSQUARE REAL ESTATE ALPH 900099 201      
nGOLDMAN - ADDL BOOK INCOME     14 599,541  
12 Subtotal. Add columns (b), (d), and (e) .. 43,619 4,132,770 28,308
13Total. Add line 12, columns (b), (d), and (e)..................
13
4,204,697
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2022)
Form 990-PF (2022)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2022)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2022 AccountingFeesSchedule
Name:
R J MCELROY TRUST
EIN:
42-6173496
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INDIRECT ACCOUNTING FEES 19,000 4,750   14,250

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

TY 2022 DepreciationSchedule
Name:
R J MCELROY TRUST
EIN:
42-6173496
Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
Life (# of years)		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
FILES 1983-12-31 832 832 S/L 5.0000        
WORD PROCESSOR 1984-04-30 4,066 4,066 S/L 5.0000        
FILE CABINET 1989-01-31 650 650 S/L 7.0000        
CARPET 1989-12-31 2,043 2,043 S/L 7.0000        
COMPUTER 1992-08-31 6,926 6,926 S/L 5.0000        
FURNITURE 1993-06-30 854 854 S/L 7.0000        
FAX AND TYPEWRITER 1993-06-30 1,697 1,697 S/L 5.0000        
REDECORATING 1993-09-30 4,816 4,816 S/L 7.0000        
CARPET 1993-09-30 1,389 1,389 S/L 7.0000        
DOORS 1993-09-30 839 839 S/L 7.0000        
CHAIRS - 4 1993-10-31 1,901 1,901 S/L 7.0000        
DESK 1994-01-31 292 292 S/L 7.0000        
COMPUTER 1997-11-20 8,819 8,819 S/L 5.0000        
COPIER 1998-11-17 5,775 5,775 S/L 5.0000        
TELEPHONE SYSTEM 1999-10-28 5,738 5,738 S/L 5.0000        
OFFICE FURNITURE 2004-09-15 4,166 4,166 S/L 7.0000        
LAPTOP COMPUTER 2006-03-14 953 953 S/L 5.0000        
PHONE 2006-11-29 488 488 S/L 5.0000        
CHAIR 2006-11-29 449 449 S/L 7.0000        
BOOKCASE CABINET 2007-08-09 2,116 2,116 S/L 7.0000        
COMPUTER 2013-12-11 1,271 1,271 200DB 5.0000        
OFFICE FURNITURE 2018-07-30 4,085 4,085 200DB 7.0000        
GRANTS MANAGEMENT SOFTWARE 2019-07-12 10,165 8,471   3.0000 1,694      
SOFTWARE 2021-06-28 10,700 2,081   3.0000 3,566      

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TY 2022 GainLossSaleOtherAssetsSch
Name:
R J MCELROY TRUST
EIN:
42-6173496
Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
ST WASH SALE TRANSACTIONS - MS 37434   PURCHASE     28,308       28,308  

TY 2022 InvestmentsCorpStockSchedule
Name:
R J MCELROY TRUST
EIN:
42-6173496
Name of Stock End of Year Book Value End of Year Fair Market Value
DOUBLE TOTAL RETURN 1,462,714 1,190,979
KOPERNIK 1,100,429 1,173,570
VANGUARD INT'L EQUITY 3,261,352 3,476,507
VOO 3,763,906 4,199,216
OAKMARK GLOBAL EQUITY    
EDGEWOOD LARGE CAP 1,357,735 1,846,536
ISHARES BC TIP ETF 1,205,118 1,089,201
OAKMARK LARGE CAP VALUE 1,981,641 1,820,772
LAZARD SMA 1,638,928 1,888,055
ISHARES CORE S&P SMALL-CAP ETF 730,662 977,253
ISHARES CORE S&P MID-CAP ETF 1,049,461 1,484,963
ARISOTLE 1,891,646 2,113,778
PIMCO COMMODITY REAL RETURN 2,394,945 2,083,384
GARCIA HAMILTON 3,941,165 3,765,845
MARTIN CURRIE EM 1,812,569 1,356,713

TY 2022 InvestmentsOtherSchedule2
Name:
R J MCELROY TRUST
EIN:
42-6173496
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
BAYVIEW CAPITAL PARTNERS II AT COST 100,000  
BAYVIEW CAPITAL PARTNERS III AT COST 500,663 673,352
BAYVIEW CAPITAL PARTNERS IV AT COST 340,317 185,151
BLACKSTONE ENERGY II AT COST 374,105 452,758
BTO OFFSHORE FEEDER FUND AT COST 636,203 850,091
CANYON AT COST   16,145
CASCADE FUND LTD AT COST 2,810,000 2,812,287
COHESIVE CAPITAL PARTNERS III AT COST 322,229 450,584
GOLDENTREE AT COST   81,794
GOLDMAN SACHS VINTAGE FD V OFFSHORE AT COST 110,198 45,177
GOLDMAN SACHS VINTAGE FD VI OFFSHORE AT COST 440,241 373,946
GOLDMAN SACHS VINTAGE OFFSHORE VIII AT COST 946,912 1,007,950
HAMILTON LANE AT COST 1,532,357 2,197,154
HCP MILLENNIUM AT COST 1,192,157 2,114,885
MAKENA PERPETUAL VC FUND AT COST 3,008,881 3,752,265
PRIVATE EQUITY CORE FUND III AT COST 98,563 242,659
OAK STREET REC V AT COST 430,338 486,329
PENN SQUARE GLOBAL REAL ESTATE FUND AT COST 189,939 122,957
POINTER OFFSHORE ACCOUNT AT COST 100,000 2,265,603
THIRD POINT LLC AT COST   1,895,547
TOWN SQUARE REAL ESTATE ALPHA FUND AT COST 355,421 340,323

TY 2022 LandEtcSchedule2
Name:
R J MCELROY TRUST
EIN:
42-6173496
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
  81,030 75,977 5,053  


TY 2022 LegalFeesSchedule
Name:
R J MCELROY TRUST
EIN:
42-6173496
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INDIRECT LEGAL FEES 2,505     2,505


TY 2022 OtherExpensesSchedule
Name:
R J MCELROY TRUST
EIN:
42-6173496
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXPENSES        
INSURANCE 7,391 1,848   5,543
DUES 2,229     2,229
OFFICE EXPENSE 2,909     2,909
MISCELLANEOUS 50     50
OTHER - SCHEDULED        
ALLOCATED INVESTMENT OPERATIN 205,168 205,168    
POSTAGE 142     142
UTILITIES 5,885     5,885
CONTINUING EDUCATION 1,500     1,500
INVESTMENT EXPENSE 3,287 3,287    


TY 2022 OtherIncomeSchedule2
Name:
R J MCELROY TRUST
EIN:
42-6173496
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
INVESTMENT ALLOCATED ORDINARY 73,030 73,030  
PASSIVE INCOME 93,585 93,585  
BAYVIEW III - ADD BOOK INC -73,061    
BAYVIEW CAPITAL III 43,039    
BAYVIEW IV - ADD BOOK INC 135,052    
BAYVIEW CAPITAL IV -7,153    
BLACKSTONE EN - ADD BOOK INC 19,126    
PRIVATE EQUITY CORE FUND 1,810    
PRIVATE EQUITY - ADD BOOK INC 56,400    
PENN SQUARE - ADD BOOK INC -230    
PENN SQUARE GLOBAL REAL EST 53    
TOWNSQUARE - ADD BOOK INC -6,037    
TOWNSQUARE REAL ESTATE ALPHA 3,402    
TOWNSQUARE REAL ESTATE ALPHA 2,267    
TOWNSQUARE REAL ESTATE ALPHA 201    
GOLDMAN - ADDL BOOK INCOME 599,541    


TY 2022 OtherProfessionalFeesSchedule
Name:
R J MCELROY TRUST
EIN:
42-6173496
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
COMMUNITY BANK & TRUST 5,638 3,947   1,691
OAK STREET - ALLOCATED FROM PSP 4,855 4,855    
OTHER 218,070 218,070    


TY 2022 TaxesSchedule
Name:
R J MCELROY TRUST
EIN:
42-6173496
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXCISE TAXES 86,104      
FOREIGN TAXES 22,224 22,224